One of JP Morganâs most senior Italian bankers has launched a specialist derivatives hedge fund with the former managing partner of UK law firm Clifford Chanceâs Italian practice.

Rombelli, who will be the biggest shareholder in Helm with his sister Nicoletta, said: “Helm is one of the few direct hedge fund managers in Italy. Of the €28bn ($36bn) of assets under management in Italian hedge funds, €27.4bn is invested through funds of funds. Helm will take a different approach and focus on opportunistic derivatives trades as a way to differentiate and create returns not correlated with markets.”

Helm will launch its opportunity fund once it has gained regulatory approval from the Bank of Italy and plans to hire about 15 people.